Walmart buys its IE distribution facility from State Street for $223M
Walmart doesn’t seem to be fazed by the Inland Empire’s shaky industrial market fundamentals. The Arkansas-based retail giant has purchased its distribution facility in Riverside for $223 million, L.A. Business First reported. The company’s real estate arm acquired the 507,000-square-foot cold storage facility from State Street Corporation. Walmart has been leasing the site at 1001 Columbia Avenue from State Street since 2010. It plans to continue temperature-controlled distribution operations from the property. Walmart’s nearest Supercenter locations are roughly five miles north at 1120 South Mount Vernon Avenue in Colton and eight miles south at 6250 Valley Springs Parkway in Riverside. […]This article originally appeared on The Real Deal. Click here to read the full story.
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